Checklist for Employers Year-end

 A few extra matters to consider when preparing employee payment summaries

  • Have any allowances been paid to employees? Should such allowances be shown?
  •  Has a travel allowance been paid for overnight food and accommodation? Does the substantiation exception apply?
  • Has an employee(s) been paid a cent per kilometre reimbursement? Such amount must be included as an allowance (as it is not strictly a reimbursement, notwithstanding that it is commonly referred to as such).
  • Have you included employees that are also related parties of the business (e.g. family members)? 
  • Do payment summary totals match amounts disclosed on Business Activity Statements? 
  • Have superannuation and fringe benefits been reported accurately?